The Brazil Securities Commission’s Superintendence of Supervision of Institutional Investors (SIN) has issued guidance updating the operational dynamics for obtaining onboarding data and a CPF tax identifier for non-resident investors that are exempt from registration with the CVM under CVM Resolution 13. The updated process applies to non-resident natural persons, including those participating in collective accounts, and reiterates that these investors do not need any CVM registration or authorisation to operate, as provided in Article 2 (sole paragraph) of CVM Resolution 13. The circular letter incorporates updates previously introduced in Circular Letter CVM/SIN 08/2024 and notes that, while the operational system in Circular Letter CVM/SIN 09/2023 remains in force, non-resident individuals participating in collective accounts may continue to use the fictitious operational code. A joint CVM and B3 workshop originally planned for January 2025 has been postponed to February and will present the project and address questions, with further information to be released in due course.
Brazil Securities Commission (CVM) 2025-01-02
Brazil Securities Commission updates operational process for non-resident individual investors to obtain CPF and onboarding data under CVM Resolution 13
The Brazil Securities Commission's Superintendence of Supervision of Institutional Investors has updated guidance on onboarding data and CPF tax identifiers for non-resident investors exempt from CVM registration under Resolution 13. The update clarifies that non-resident natural persons, including those in collective accounts, do not require CVM registration or authorization to operate. A joint CVM and B3 workshop on the project is postponed to February 2025.